Pan American Silver (NASDAQ:PAAS) Downgraded by BidaskClub to “Hold”

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BidaskClub cut shares of Pan American Silver (NASDAQ:PAAS) (TSE:PAAS) from a buy rating to a hold rating in a research report released on Saturday morning, BidAskClub reports.

A number of other analysts have also recently commented on the company. Zacks Investment Research upgraded Pan American Silver from a hold rating to a buy rating and set a $21.00 price objective for the company in a research report on Thursday, August 29th. Royal Bank of Canada upgraded shares of Pan American Silver from a sector perform rating to an outperform rating and upped their target price for the company from $17.00 to $23.00 in a report on Thursday, September 5th. ValuEngine raised shares of Pan American Silver from a hold rating to a buy rating in a research note on Tuesday, August 27th. TD Securities lifted their price target on shares of Pan American Silver from $20.00 to $22.00 and gave the stock a buy rating in a report on Friday, August 9th. Finally, National Bank Financial raised shares of Pan American Silver from a sector perform rating to an outperform rating and set a $31.00 price objective for the company in a research report on Friday, August 30th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the stock. Pan American Silver has a consensus rating of Buy and an average target price of $21.18.

PAAS stock opened at $17.32 on Friday. The stock’s 50 day moving average price is $17.07 and its 200 day moving average price is $13.71. The firm has a market cap of $3.72 billion, a P/E ratio of 44.41, a PEG ratio of 11.38 and a beta of 0.07. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.98 and a current ratio of 4.08. Pan American Silver has a 1 year low of $10.26 and a 1 year high of $19.48.

Pan American Silver (NASDAQ:PAAS) (TSE:PAAS) last released its quarterly earnings results on Wednesday, August 7th. The basic materials company reported $0.04 earnings per share for the quarter, hitting the consensus estimate of $0.04. Pan American Silver had a positive return on equity of 0.56% and a negative net margin of 2.39%. The company had revenue of $282.90 million during the quarter, compared to the consensus estimate of $320.98 million. During the same quarter last year, the business posted $0.23 earnings per share. Pan American Silver’s revenue was up 30.7% compared to the same quarter last year. On average, research analysts predict that Pan American Silver will post 0.39 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Monday, August 19th were paid a $0.062 dividend. The ex-dividend date was Friday, August 16th. This represents a $0.25 annualized dividend and a yield of 1.43%. Pan American Silver’s payout ratio is currently 35.90%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PAAS. Dimensional Fund Advisors LP boosted its stake in Pan American Silver by 10.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,037,591 shares of the basic materials company’s stock worth $15,149,000 after buying an additional 95,849 shares during the last quarter. Creative Planning increased its position in Pan American Silver by 12.8% during the first quarter. Creative Planning now owns 18,608 shares of the basic materials company’s stock worth $247,000 after purchasing an additional 2,118 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Pan American Silver by 19.9% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,300 shares of the basic materials company’s stock worth $163,000 after purchasing an additional 2,039 shares during the last quarter. SG Americas Securities LLC purchased a new position in Pan American Silver during the first quarter worth approximately $315,000. Finally, Gabelli Funds LLC raised its stake in Pan American Silver by 627.4% during the first quarter. Gabelli Funds LLC now owns 363,695 shares of the basic materials company’s stock worth $4,819,000 after purchasing an additional 313,695 shares during the period. Hedge funds and other institutional investors own 51.29% of the company’s stock.

About Pan American Silver

Pan American Silver Corp., together with its subsidiaries, engages in the exploration, development, extraction, processing, refining, and reclamation of silver mines. The company owns and operates mines located in Mexico, Peru, Canada, Argentina, and Bolivia. It also produces and sells gold, zinc, lead, and copper.

Further Reading: Return on Investment (ROI) Defined, Explained

Analyst Recommendations for Pan American Silver (NASDAQ:PAAS)

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